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Class chief steps down

HARRISON WORLEY  |  THURSDAY, 25 OCT 2018
... about four years. In an ASX announcement on Wednesday, Class said its board had come to an agreement with Bungard that its next phase of growth required a new leader. The search has already started. Chief financial officer Glenn Day will absorb Bungard's ...

Magellan boosts retail push for Airlie

KANIKA SOOD  |  THURSDAY, 25 OCT 2018
... "We are working on the regulatory approval right now. We wanted to do it by the end of the year but it could go in to early next year," Magellan Financial Group's new chief executive Brett Cairns told an investor roadshow in Sydney this week. Magellan ...

Blue Sky LIC gets a new suitor

KANIKA SOOD  |  WEDNESDAY, 24 OCT 2018
... manager Blue Sky did not offer. Pinnacle's new private boutique Alterum would take over as BAF's manager starting next year, subject to approval from the LIC's shareholders. Alterum will be led by BAF executive chair Andrew Champion. The ...

Bennelong boutique hires analyst

KANIKA SOOD  |  WEDNESDAY, 24 OCT 2018
... analyst, make him a good fit for the role and the team at this crucial point in the business' evolution," Bedingfield said. "Next year will mark the strategy's five-year track record, and adviser interest in the strategy - which has exceeded its performance ...

Two new ETFs on the block

KANIKA SOOD  |  WEDNESDAY, 24 OCT 2018
... that will pick stocks on 24 indicators spread across four measures growth, profitability and cash flow. It is slated to list next month, and will charge a fee of 0.95% p.a. VanEck managing director Arian Neiron said the company is one the few local fund ...

Private equity will become bigger than hedge funds: Research

KANIKA SOOD  |  WEDNESDAY, 24 OCT 2018
Private equity is poised to overtake hedge funds, becoming the largest asset class in alternatives in the next five years, according to new Preqin research. Preqin predicts assets in alternative investments will hit $19 trillion by 2023, up from $12 ...

Billionaire investor says markets in late cycle but anything possible

KANIKA SOOD  |  TUESDAY, 23 OCT 2018
... optimistic investors have pushed up asset prices, the US economy has risen steadily - making it hard to predict what could be next for the markets. "Where are we now? I think the current [up] cycle is in the eighth innings. In baseball, in a regular ...

Early release of super, FHSSS gaining traction: ATO

KARREN VERGARA  |  MONDAY, 22 OCT 2018
... an update on event-based reporting in light of the ATO moving away from an annual member contributions statement. By mid-next year, these initiatives will be complete, bringing a shared visibility of decisions made by and for members about their super ...

Chief economist update: Still the lucky country?

BENJAMIN ONG  |  FRIDAY, 19 OCT 2018
... adjusted stats are highly volatile. Ergo, should be taken with a pinch of sugar and spice. They're up one month, down the next or up over the past two or three months and down the next, or vice-versa. A more accurate picture of the state of the Australian ...

Adviser-client relationships not swayed by RC

JAMIE WILLIAMSON  |  THURSDAY, 18 OCT 2018
... consumers. It also had no impact on 37% of small-to-medium enterprises currently receiving advice or intending to in the next two years. Further, 20% of advised consumers said the Royal Commission's findings would actually make them more likely to visit ...